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Statoil wins eight oil exploration licenses off Canada

Reuters - UK Focus

OSLO, Nov 13 (Reuters) - Norwegian oil firm Statoil (Hamburg: 1245893.HM - news) and partners have won eight licenses to explore for oil and gas off the coast of Canada, the firm said late on Thursday.

Two licenses are off Nova Scotia, while six are off Newfoundland, near Statoil (Xetra: 675213 - news) 's major Bay du Nord oil discovery that may contain up to 600 million of recoverable oil.

Off Newfoundland, Statoil will operate five of the licenses and will partner with ExxonMobil BP and BG , which was recently acquired by Shell (LSE: RDSB.L - news) .

Chevron (Swiss: CVX.SW - news) operates the sixth license, with Statoil and BG as partners.

While Statoil has already explored off Newfoundland, it had never explored off Nova Scotia before winning the two licenses there. (Reporting by Gwladys Fouche, editing by William Hardy)